The annual shareholders’ meeting of our company took place in Hamburg from August 16th to 18th. The financial results of the 2018 fiscal year were discussed in detail. Overall, the shareholders are very satisfied with the results of the third full business year.
In the strategic area, extensive market analyses were conducted and evaluated, from which the future investment structure was derived. The portfolio is set to become more international, in line with the ongoing expansive policies of central banks, and the tourism sector is to be strengthened due to a clear global surge in demand.
The global economic development was examined using the example of the Federal Republic of Germany. Some classic industries, such as the automotive sector, are currently struggling somewhat, which is being largely offset by still stable exports and domestic consumer demand. However, there are still no significant public investments, despite continuing strong increases in overall state tax revenues. The current tax estimate from May 2019 shows a continued average annual increase of well over three percent. In 2018, revenues were 776.3 billion euros and are expected to rise to over 900 billion euros annually by 2023. The additional revenues are still predominantly being used by the public authorities for additional staff and significant salary increases. The urgently needed modernization of our “third-world infrastructure” continues to drift further out of reach.
We wish our business partners continued calm and wise investment decisions. Enjoy your business!
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